The company’s Engineered Products and Solutions segment recorded after-tax operating income of US$180 million, up 9% year on year while Q2 2016 revenue in the Arconic segments was US$3.5 billion, up 1% year on year.
Q2 2016 Alcoa Corporation segments including Alumina and Primary Metals had total revenues of US$2.3 billion, up 7% sequentially.
‘As markets ever more rapidly evolve, we have made Alcoa increasingly agile; results continue to improve,’ said Klaus Kleinfeld, Alcoa chairman and CEO. ‘In the face of a transforming aerospace market, we moved quickly to bring our costs down while capturing new opportunities. Contract wins continued as did our innovation leadership with the opening of a state-of-the-art metals powder plant geared toward rising demand for 3D printed parts. Our automotive sheet revenue hit an all-time high. After substantially reshaping our Upstream segments they are now performing well even in a low pricing environment; we are building out our bauxite business and continue to win new supply contracts. Exceptional productivity and monetization of non-essential assets has put us in an excellent cash position. Our separation is on track for later this year.’
This story is reprinted from material from Alcoa, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
